Piedmont Lithium (NASDAQ:PLL) Shares Pass Above 200 Day Moving Average of $57.65

Posted by Defense World Staff on Jun 20th, 2023

Piedmont Lithium Inc. (NASDAQ:PLL – Get Rating) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $57.65 and traded as high as $63.34. Piedmont Lithium shares last traded at $62.34, with a volume of 748,000 shares.

Analyst Ratings Changes

A number of research analysts recently commented on the company. DA Davidson boosted their price target on Piedmont Lithium from $90.00 to $96.00 in a report on Monday, June 5th. Macquarie assumed coverage on Piedmont Lithium in a report on Wednesday, March 8th. They set an “outperform” rating and a $140.00 price target on the stock. Finally, Roth Mkm increased their price target on Piedmont Lithium from $150.00 to $190.00 and gave the company a “buy” rating in a report on Friday, April 21st.

Piedmont Lithium Stock Performance

The business has a 50-day moving average of $57.49 and a two-hundred day moving average of $57.65.

Piedmont Lithium (NASDAQ:PLL – Get Rating) last released its quarterly earnings results on Friday, May 5th. The mineral exploration company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.03). On average, equities analysts expect that Piedmont Lithium Inc. will post 6.29 EPS for the current year.

Insider Buying and Selling at Piedmont Lithium

In other Piedmont Lithium news, CFO Michael D. White sold 1,316 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $58.99, for a total value of $77,630.84. Following the sale, the chief financial officer now directly owns 14,809 shares of the company’s stock, valued at $873,582.91. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.77% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Piedmont Lithium

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PLL. Nisa Investment Advisors LLC increased its holdings in Piedmont Lithium by 150.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 500 shares of the mineral exploration company’s stock worth $30,000 after purchasing an additional 300 shares during the period. Ahrens Investment Partners LLC acquired a new stake in Piedmont Lithium during the 1st quarter worth approximately $35,000. Geneos Wealth Management Inc. acquired a new stake in Piedmont Lithium during the 1st quarter worth approximately $36,000. Money Concepts Capital Corp acquired a new stake in shares of Piedmont Lithium in the 4th quarter valued at approximately $37,000. Finally, Point72 Middle East FZE acquired a new stake in shares of Piedmont Lithium in the 4th quarter valued at approximately $38,000. Hedge funds and other institutional investors own 55.84% of the company’s stock.

About Piedmont Lithium

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Piedmont Lithium Inc, a development stage company, engages in the exploration and development of resource projects in the United States. The company primarily holds a 100% interest in the Carolina Lithium Project that include an area of approximately 3,245 acres located within the Carolina Tin-Spodumene Belt situated to the northwest of Charlotte, North Carolina in the United States.